Retail

Wu Properties Acquires 231,126 SF Shopping Center in Northwest Houston

by Taylor Williams March 10, 2022

HOUSTON — Locally based investment firm Wu Properties has acquired Willowchase Center, a 231,126-square-foot shopping center that sits on a 19.5-acre site in northwest Houston. At the time of sale, Willowchase Center was 97 percent leased, with Hispanic grocer Fiesta serving as the anchor. Other tenants include dd’s DISCOUNTS, Jo-Ann Fabrics, Goodwill, Northern Tool + Equipment, Mattress Firm, Family Dollar, America’s Best, Jamboree Dentistry and Metro PCS. Ryan West, Chris Gerard, John Indelli, Katherine Miller, Bailey Black and Grant Rexrode of JLL represented the seller, Houston-based Fidelis Realty Partners, in the transaction. Wu Properties has tapped NAI Partners to lease the center moving forward.

March 10, 2022

Development Florida Office Retail Southeast

Patrinely, USAA Begin Renovations at 263,000 SF Office, Retail Center in Metro Miami

by Julia Sanders March 10, 2022

CORAL GABLES, FLA. — Patrinely Group has begun renovations at Columbus Center, a 263,000-square-foot office and retail complex in Coral Gables. USAA Real Estate, Columbus Center’s majority owner, has partnered up with Patrinely Group to remodel the building’s common areas. Renovations will include updating the front entrance and main lobby, activating the outdoor terrace and modernizing the conference centers. Patrinely Group assumed property management operations at the property in 2020. The firm also oversees leasing, along with Maggie Kurtz, Kevin Gonzalez and Jake Freeman of CBRE. Located at 1 Alhambra Plaza, Columbus Center is situated 5.3 miles from downtown Miami, 3.1 miles from the University of Miami and 4.7 miles from Miami International Airport. The property is also situated 11.9 miles from Miami Beach.

March 10, 2022

Acquisitions Northeast Retail Rhode Island

Capital Group Properties Buys 160,000 SF Shopping Center in Warwick, Rhode Island

by Taylor Williams March 10, 2022

WARWICK, R.I. — Massachusetts-based investment firm Capital Group Properties has purchased Warwick Center, a 160,000-square-foot retail center in Rhode Island. The property sits on 15 acres at the intersection of Interstates 95 and 295 and houses tenants such as Barnes & Noble, Designer Shoe Warehouse, Edge Fitness, Ulta Beauty, Carrabba’s Italian Restaurant and Walpole Outdoors. Capital Group Properties purchased the asset from institutional investment firm Nuveen Real Estate for $12.3 million and plans to upgrade the landscaping, parking areas, signage, lighting and building façade. Nat Heald, Bill Moylan, Chris Angelone and Zach Nitsche of JLL represented the undisclosed seller in the transaction.

March 10, 2022

Acquisitions Kansas Midwest Retail

SVN | Chicago Commercial Brokers $4.4M Sale of Walgreens-Occupied Property in Wichita, Kansas

by Kristin Harlow March 10, 2022

WICHITA, KAN. — SVN | Chicago Commercial has brokered the sale of a 15,120-square-foot retail property occupied by Walgreens in Wichita for $4.4 million. The net-leased property is located at 333 W. 13th St. Tim Franz of SVN represented the undisclosed seller. A California-based private equity group was the buyer.

March 10, 2022

Leasing Activity Michigan Midwest Retail

Carelinc Medical Equipment Signs 12,250 SF Retail Lease in Saginaw, Michigan

by Kristin Harlow March 10, 2022

SAGINAW, MICH. — Carelinc Medical Equipment, a home medical equipment supply company, has signed a 12,250-square-foot retail lease at Fashion Square West, a retail strip center in the Mid-Michigan city of Saginaw. David Depodesta and James Mitchell of Dominion Real Estate Advisors LLC worked alongside Michele Rosenblum of Lee & Associates and Earl Clements of Clements Realty on the five-year lease. Clements represented the tenant. The owner of the property was not released.

March 10, 2022

Acquisitions Retail Texas

Disney Investment Group Arranges Sale of 37,500 SF Lake Forest Marketplace in McKinney, Texas

by Taylor Williams March 9, 2022

MCKINNEY, TEXAS — Locally based brokerage firm Disney Investment Group (DIG) has arranged the sale of Lake Forest Marketplace, a 37,500-square-foot shopping center in the northern Dallas suburb of McKinney. The property was built in 2019. At the time of sale, Lake Forest Marketplace was fully leased to 14 tenants, including Pet Supplies Plus, MOD Pizza, Athletico, Floyds 99 Barbershop, Jersey Mike’s Subs and The UPS Store. David Disney and Adam Crockett of DIG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

March 9, 2022

Acquisitions Retail Washington Western

Marcus & Millichap Brokers $1.9M Sale of Nix 99 Retail Property in Lynnwood, Washington

by Amy Works March 9, 2022

LYNNWOOD, WASH. — Marcus & Millichap has brokered the sale of The Nix 99 Building at Mukilteo Gateway, a retail property in Lynnwood. A private investor sold the asset to Lighthouse Diving for $1.9 million. Located at 13718 31st Ave. W, The Nix 99 Building at Mukilteo Gateway features 5,200 square feet of retail space. At the time of sale, the property was vacant. The new owner plans to open a diving gear superstore at the site. Christopher Secreto and Stren Lea of Marcus & Millichap’s Seattle office represented the seller, while Art Thimpson of NAI-PSP represented the buyer in the deal.

March 9, 2022

Acquisitions Kansas Midwest Retail

Marcus & Millichap Brokers $6.4M Sale of Walgreens-Occupied Property in Olathe, Kansas

by Kristin Harlow March 9, 2022

OLATHE, KAN. — Marcus & Millichap has brokered the sale of a 14,631-square-foot retail property occupied by Walgreens in Olathe for $6.4 million. The building is located at 15066 W. 151st St., about 24 miles southwest of downtown Kansas City. Neighboring retail tenants include Starbucks, FedEx, McDonald’s, Sonic, Taco Bell and Hy-Vee. Walgreens executed an early five-year lease renewal on its original 20-year net lease. Nicholas Kanich of Marcus & Millichap marketed the property on behalf of the seller, an Iowa-based investment group. Colby Haugness, Marcus & Millichap’s Kansas broker of record, assisted in closing the transaction. A Delaware-based investment group was the buyer.

March 9, 2022

Leasing Activity Midwest Ohio Retail

Phantom Fireworks Leases Former Laser Quest Facility Near Akron, Ohio

by Kristin Harlow March 9, 2022

MONTROSE, OHIO — Phantom Fireworks has leased a former Laser Quest facility at 80 Brookmont Road in Montrose, about 10 miles northwest of Akron. The 12,750-square-foot building has sat vacant for six months. Nichole Booker of SVN Summit Commercial Real Estate Advisors negotiated the lease. The opening date of the store will be determined shortly, according to a news release from SVN. Phantom Fireworks operates retail stores across 15 states. Its primary warehouse and corporate office is located in Youngstown, Ohio.

March 9, 2022

Acquisitions Northeast Pennsylvania Retail

First National Realty Acquires 216,000 SF Dauphin Plaza Shopping Center in Harrisburg

by Taylor Williams March 9, 2022

HARRISBURG, PA. — New Jersey-based investment firm First National Realty Partners has acquired Dauphin Plaza, a 216,000-square-foot, open-air shopping center in Harrisburg. Grocer Price Rite has served as the anchor tenant since 2006 and currently operates a 33,500-square-foot store. Other tenants include Big Lots, Ashley Furniture, Crunch Fitness, Dollar General, Waffle House, Subway, Weight Watchers and H&R Block. James Galbally, Chris Munley and Colin Behr of JLL represented the undisclosed seller in the transaction.

March 9, 2022

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